Wednesday 22 May 2013

Government’s Microfinance Plan Welcomed by Good Shepherd

Good Shepherd New Zealand Trust has welcomed the Government’s Budget announcement to explore and pilot low and no-interest loans schemes for families on low incomes.

The Trust, established in July 2012 to assist marginalised and economically disadvantaged people, has met with the Children’s Commissioner and representatives from the Expert Advisory Group on Solutions to Child Poverty, the Government, and the New Zealand Bankers’ Association to discuss a national microfinance strategy in the context of the Child Poverty Report released in late 2012.

Fleur Howard, Senior Project Manager for the Trust, said today: “In terms of the emerging needs for the community, we have identified microfinance together with financial inclusion and literacy, as an area in which we can make a meaningful and sustainable difference in New Zealand.”

The Good Shepherd New Zealand Trust is drawing on 32 years of experience in Australia of developing and growing the footprint of no and low interest loan programs. Good Shepherd Microfinance Australia has been supporting the development of these programs in NZ for the past 3 years through Nga Tangata, the first accredited No Interest Loan Scheme (NILS) program in New Zealand.

A strong partnership has also been forged with KiwiBank who is active in supporting the establishment and growth of NILS. Good Shepherd New Zealand Trust is committed to supporting the establishment of additional microfinance programs.

“In Australia, Good Shepherd Microfinance works in partnership with the Government, NAB and community groups to offer low and no interest loans to people who are unable to access mainstream financial services for everyday items such as fridges, washing machines and furniture,” said Ms Howard.

“We are now in the process of partnering with Aviva Family Violence Services (formerly Christchurch Women’s Refuge) and its alliance partners to establish a 12-month pilot program offering no interest loans to Canterbury families who are affected by family violence and are on low incomes.”

Good Shepherd New Zealand Trust also welcomed the $1.5 million towards the much needed support provided by Family Budgeting services.

“Many families are struggling with debt and these two announcements will make an enormous difference to their everyday lives,” Ms Howard added.

The Good Shepherd New Zealand Trust (CC48707) is an initiative of the Good Shepherd Sisters. It was established in 2012 to assist marginalised and economically disadvantaged people (women and children). The Trust is connected with the Good Shepherd Network in Australia which this year is marking the 150th anniversary of the Good Shepherd Sisters arrival in Australia. The Network includes Good Shepherd Microfinance (Australia's largest microfinance organisation) which runs No Interest Loans Schemes (NILS) and other programs in partnership with the Government, NAB and community organisations.
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